Tesla in talks with literally everyone on nickel
Hardly a day went past in October without news that Tesla (NASDAQ:TSLA) was in talks with someone in the nickel market about locking up a supply contract! First it was BHP (ASX/LSE:BHP) and Nickel West, then it was Vale (NYSE:VALE) regarding its Canadian operations and then it was Glencore (LSE:GLEN), which had already scored an offtake agreement on cobalt. Finally the Indonesian government got in on the act as well. In our view it’s highly unlikely that Tesla is the only carmaker negotiating on nickel (and other battery materials) and it’s not exactly newsworthy. The issue is – will these...